Intelligent capture software is changing the way that people experience banking. Many of the pain points that frustrate customers and drive them away from traditional retail banking can be eliminated through intelligent capture. Encapture, an intelligent capture platform that uses artificial intelligence to automate document-intensive processes, is improving customer experiences and driving increased satisfaction in retail banks. In fact, we’re currently being used in over 15% of retail branches in the US. See how our clients use Encapture to drive increased customer satisfaction:
1) Encapture makes banking faster and more efficient.
We understand that you want to meet your customers’ expectations quickly. The research is clear: Millennials want faster customer service. In 2019, Millennials made up about a third of the workforce, and that number is only going to grow. What does this mean for retail banks? It means that a large percentage of your customer base is going to be made up of people who want their banking experience to be fast and efficient.
Encapture makes that happen by providing your customers with easy ways to provide required documents, in whichever format they choose. Whether they walk in a branch with a file folder full of paperwork, send an email to banker with digital attachments, or prefer to use a secure web portal, your can provide your customers a quick and seamless experience when submitting documents. Encapture can help quickly aggregate provided documents and send them to the right teams, so you aren’t asking customers for the same documents over and over again.
Your employees will benefit even moreso. With Encapture, gone are the days of scanning a document, emailing it to yourself, saving it to your desktop, and then uploading it elsewhere (yes, that still happens). Instead, they can quickly help customers submit documents and ensure that those docs are getting processed immediately. Did your customer provide paperwork in a branch? Encapture integrates with your scanner or MFD to pick up documents right from the source. Did your customer send attachments via email? Encapture has an Outlook add-in. Do you have a web portal to receive docs? So does Encapture, but we can also integrate with yours.
In other words, intelligent capture is meant to smooth over your workflows, increase productivity, and improve the customer experience – all while being adaptable.
2) Encapture improves transparency.
Have you seen Domino’s Pizza Tracker? This handy little tool was created because Domino’s wanted their customers to feel informed and in control of the pizza delivery process. What can banks learn from a major pizza chain?
Customers desire to be “in the loop” when it comes to something they are buying or consuming. Chances are, most consumers would love the Domino’s Pizza Tracker model to be used with just about everything they buy!
Banking is not as straightforward as pizza toppings and delivery times, but Encapture does create ways that customers feel more informed throughout the process. With the Requests feature, customers and bankers know exactly which documents have been provided and which are missing in a process.
For example, when applying for a mortgage, a borrower may need to provide multiple year’s tax returns. If they accidentally submit the same tax return twice, Encapture can recognize the error and automatically alert the banker, who can then reach out to the borrower and request the missing document (and let them know the reason).
Perhaps a customer needs to provide multiple documents that aren’t readily available (like when opening a commercial account) and sends them in piecemeal over a few days. With Encapture’s customer portal, they can see exactly what they’ve submitted and what’s missing (as can their banker!). This prevents the familiar, “I need this missing document,” only to hear the customer grumble that this is the second time they’re submitting it and wondering why their banker doesn’t have the first one. Oops.
That level of transparency helps the borrower feel close to the process and allows the banker to better care for their customers in real-time. Encapture allows customers to have an inside look at the capture process (usually the most opaque and convoluted step) when opening an account or applying for a loan.
3) Encapture protects customer data.
Customer concern about private data continues to grow. Submitting paperwork with PII, payment, or other sensitive data can make customers feel exposed. They want confidence that their bank is handling their information with upmost privacy and industry-leading security standards.
Surprisingly, current capture processes don’t protect customer data very well. When scanning documents using an MFD, the device stores the data on the machine unencrypted. Employees needing to download files onto their own hard drives or even emailing documents between departments can leave a bank vulnerable to hacking, theft, or typical human error of accidentally sending docs to the wrong recipient.
Encapture helps eliminate this security gap by providing fully encrypted data transfer (in flight and at rest) from first touch. Given our platform integrates with every point of entry a document might be received in your organization, you’ll have full visibility into exactly where that data goes and who has access. Our highly configurable workflow creator, Orchestrator, lets you easily control the entire process and eliminate security risks posed with multiple people handling sensitive documents — avoiding potential issues.
Want to learn more about how Encapture can make your customers (and employees) happy?
Let’s talk! We work with many of the largest retail banks to keep their customers happy and help their employees focused on what matters most — better serving customers. Encapture also helps banks cut down on tons of costs in back-office processing.
Let us help you solve your unique information and document management challenges.